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and our economy. and finally, reform that recognizes the need for safety and security on our boarder and in our communities. with democrats and republicans recognizing the moral, economic and political imperative to create a 21st century immigration process, the 113th congress marks the best opportunity for broad immigration reform in nearly a decade. but for legislation to pass, it will take leadership. leadership from the administration, from congress and from faith, law enforcement or and business leaders at all levels. in each case the leadership that is needed must be strategic, disciplined and unified. our speakers today are exactly that; streej i disciplined and unified. our unity of purpose comes from the common crisis facing families and businesses in our midst and cuts across professional sectors, geographic regions, political stripes and religious beliefs. our consensus lies in a common belief that all americans prosper when we welcome immigrants and empower them to participate fully in our society. we have a broad, a range of speakers today from these three constituencies
on the order of one, 1.5% visual, quite significant drag on economy. at the same time with quite a bit to do to address our long-term sustainability issues. a lot more work to do, let me be very clear about that. but it's going to be a long haul. it's not going to happen overnight. basically because the government budget represents the values and priorities of the public, and decisions been made about what to spend on, what you tax and so on are very difficult and contentious decisions that will take some time to address. >> well, those is to use -- those issues of course are not the specific purdy of the fed, and so why do we shift gears and talk more specifically about some things that the fed is doing and things that the fed might do. perhaps a way to introduce that is to say that the fed of course is keeping interest rates at close to zero since roughly 2008, and it dug pretty deep into its arsenal, more recently in terms of in particular the very massive asset purchases recently launched its third round, which are intended to bring long-term interest rates. can you tell us how well you
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